President Muhammadu Buhari says the rehabilitation of the Port Harcourt–Maiduguri railway, which would have reactivated economic activities along the eastern corridor, has been greatly affected by insecurity.
The president said this on Tuesday at the virtual ground-breaking of the rehabilitation and reconstruction of Port Harcourt– Maiduguri Eastern Narrow Gauge railway project, Bonny deep sea port, and Railway Industrial Park, Port Harcourt.
He said the country’s aspiration for nationwide transport infrastructure and railways would be significantly enhanced by these three projects conceived to be integrated in their operations.
Buhari said: ‘‘The connection of the railway to a new seaport in Bonny Island and Railway Industrial Park, Port Harcourt is designed to increase the viability and boost trans-shipment of cargo and freight locally, across the West African sub-region and in the Continental Free Trade Area.
The president explained that the Port Harcourt to Maiduguri railway reconstruction project with new branch lines to Owerri, Imo State and Damaturu, Yobe State would resuscitate the once vibrant railway transportation in the Eastern railway corridor of the country.
‘‘The funding of the railway is through loan to fund 85 percent project cost and the Federal Government contribution of 15% as counterpart funding.”